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Old Three Hundred Capital & ArrowMark Partners Secures $27.1M Loan On Austin Multifamily Property

Property Image
FINANCED
$27,100,000
Jackson Finch
Andrew Cohen
Chris McColpin
+ 2

Texas

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MultiFamily230,000 SF
Financed 10/19/2020
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Property Image
FINANCED

Old Three Hundred Capital & ArrowMark Partners Secures $27.1M Loan On Austin Multifamily Property

2302 East William Cannon Drive, Austin, TX 78744

See Similar Deals
MultiFamily230,000 SF
Financed 10/19/2020
Jackson Finch
Andrew Cohen
Chris McColpin
+ 2
the dealplayerscompscontact
Contact now

Summary

TEXAS
Asset Type:MultiFamily
Price Per Square Foot:$117
Total Square Footage:230,000 SF
Transaction Type:Loan

The multifamily property located at 2302 E. William Cannon Drive in Austin was recently involved in a closed transaction. The property spans over 230,000 square feet and consists of 230 units. The deal took place on October 19, 2020.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $27,100,000
  • Address: 2302 E. William Cannon Drive, Austin
  • Market: Austin
  • Loan: Prime Finance

The borrower in this transaction was Old Three Hundred Capital and ArrowMark Partners. The loan amount secured for this deal was $27,100,000. The brokers involved in this transaction were Marko Kazanjian, Chris McColpin, Rob Hinckley, Jackson Finch, and Andrew Cohen from JLL, as well as Rob Brown and Nathan Rillstone from ArrowMark Partners.

Players

Marko Kazanjian
Institutional Property Advisors
Marko Kazanjian
71 deals$5.4B volume
BROKER
Chris McColpin
Newmark
Chris McColpin
9 deals$259.5M volume
BROKER
Rob Hinckley
JLL
Rob Hinckley
82 deals$11.7B volume
BROKER
Andrew Cohen
Institutional Property Advisors
Andrew Cohen
43 deals$3B volume
BROKER
Jackson Finch
JLL
Jackson Finch
2 deals$27.1M volume
BROKER
Prime Finance
Prime Finance
LENDER

Details

FINANCED
IMAGE: Marko Kazanjian, Chris McColpin, Rob Hinckley, Jackson Finch, & Andrew Cohen DATE: 10/19/2020 ADDRESS: 2302 E. William Cannon Drive MARKET: Austin ASSET TYPE: Multifamily SF: 230,000 UNITS: 230 BORROWER: Old Three Hundred Capital & ArrowMark Partners LENDER: Prime Finance BROKERS: Marko Kazanjian, Chris McColpin, Rob Hinckley, Jackson Finch, & Andrew Cohen - JLL, Rob Brown & Nathan Rillstone - ArrowMark Partners LOAN AMOUNT: $27,100,000

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$27,100,000.00

Monthly NOI$180,666.67
Monthly Debt Service$171,290.43
Change in Cash Flow$0.00
Refinance Proceeds$0.00